A. it is the most environmentally friendly way to produce goods. B. least-cost production techniques use the smallest total quantity of resources. C. competitive pressures in the market will drive out higher-cost producers. D. the government
provides tax credits and subsidies to low-cost producers.
A. it is the most environmentally friendly way to produce goods.
B. least-cost production techniques use the smallest total quantity of resources.
C. competitive pressures in the market will drive out higher-cost producers.
D. the government provides tax credits and subsidies to low-cost producers.
Answer: B
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________ marginal costs of production would tend to ________ a good's ________
A) Higher; increase; supply curve B) Lower; increase; supply curve C) Lower; decrease; supply curve D) lower; increase; demand curve
Refer to the table above. What is the total cost of producing 145 units of the good?
A) $90 B) $180 C) $190 D) $210
A ____________ is a gamble in which the expected value of the gamble is equal to 0.
Fill in the blank(s) with the appropriate word(s).
An expected increase in the prices of consumer goods in the near future will:
A. Decrease (or shift left) in aggregate demand now B. Increase (or shift right) in aggregate demand now C. Decrease in the quantity of real output demanded (or movement up along AD) D. Increase in the quantity of real output demanded (or movement down along AD)